Ukash virtual cash extends to Poland with epay

Poland, August 10, 2009--As Ukash, the online payment specialist, continues in its quest to make online shopping available to everybody, anywhere in the world, the company has signed a significant global deal with epay, a Division of Euronet Worldwide, Inc. – a leading provider of payment services and technology – to extend the availability of its e-cash vouchers to epay retailers across Poland.

The Ukash partnership with epay enables Ukash to expand into 6,000 epay locations across Poland, and the deal offers all internet users the opportunity to pay, play and shop online using cash without having to pay for a prepaid card.

With the growth of the e-commerce market in Poland – one that is dominated by payment methods of cash on delivery and bank transfers – the Ukash deal with epay allows online merchants to tap into the large base of consumers preferring to use cash as a safer method for online purchases.

Unlike some other financial products in Poland, Ukash vouchers do not attract a service or convenience fee. Consumers simply exchange their cash for a unique 19-digit code to use online. This provides them with a secure payment system where they don’t need to reveal any financial information, enabling those without access to credit or debit cards that can be used online – or those with fears of online fraud – to enjoy online shopping.

Mark Chirnside, chief executive officer Ukash, explained, “Given that a significant number of banked customers in Poland cannot use their cards online – as many cards are not accepted on the internet – this country is a key growth market for Ukash and we are pleased to be able to extend the availability of our product to physical points of purchase. By partnering with epay we are able to reach a huge number of potential new customers and expand our global footprint to allow more consumers in Poland to pay, play and shop online using cash.”

“This deal also opens the virtual door for many online retailers as they can now offer alternative payment methods and attract the cash consumer, as well as eliminate any risk of online fraud.”

“epay is pleased to be able to partner with Ukash in Poland, thereby combining the strengths of both businesses to offer consumers more convenient locations to obtain Ukash vouchers – a safe and alternative method of online payment,“ said Piotr Adamek, Country Manager, epay Poland. “Utilising our Polish cash collection network, we can deliver a value-added service to Ukash customers, further extending our payment service and technology offering.”

From today, Ukash vouchers will be available at 6,000 physical point of sale terminals operated by epay at independent supermarkets, petrol stations, call shops, drug stories and convenience stores in Poland. The vouchers will be available in PLN 20, 25, 100, 200, 500, 750 and can be combined, split and/or converted.

Ukash is undergoing a period of rapid global growth and in the last few months has expanded its offer in Germany, Australia and Spain with epay. This deal is expected to lead to further new countries being added in the coming months.

About Ukash®

Ukash® is a globally-recognised e-commerce payment method to enable online purchases using cash, providing freedom from credit and debit card fraud, repudiations and charge-backs, and protecting personal identity. Ukash® is regulated by the UK Financial Services Authority (FSA) and operates as one of the only a small number of Electronic Money Institutions, a status that allows a single maximum online cash payment transaction of up to £500/€750. Uniquely numbered Ukash® vouchers are widely available through payment terminals in retail outlets across Europe and South Africa. And from spring 2009, Ukash vouchers will also be issued online from the company’s website in most European territories.  The technology behind Ukash is protected by several patents registered across the Smart Voucher database and functionality and is, as such, protected by Patent Law in all the major economies of the world. Ukash® is a registered trademark of Smart Voucher Ltd. In 2008, Ukash® established a strategic partnership with South African payments giant Blue Label Telecoms to develop the brand’s services.  For more information please visit www.ukash.com

About epay

epay, a Division of Euronet Worldwide, Inc. (NASDAQ: EEFT), is a global business with a retail network of approximately 227,000 locations across a number of international markets including the UK, Germany, Spain, Italy, Australia, New Zealand, USA, Poland, Romania, Austria, Switzerland and Ireland. epay enables service providers to deliver electronic payment products and services to consumers through an extensive worldwide retail network. epay’s proprietary payment technology is backed by a cash collection service that manages the payment of funds back to the service providers and a range of marketing solutions to assist both the retailer and service provider to maximise their sales opportunities. In 2008 epay processed over 700 million payment transactions with a total face value of $11 billion. epay’s product portfolio includes top-up or recharge services for prepaid mobile airtime, prepaid debit cards and e-wallets; payment services for bills, road tolls and money transfer; and marketing and distribution services for gift cards, digital content and transport tickets. epay’s commitment to customers is supported by a strong roadmap of innovative new epayment products to bring to market. epay’s corporate headquarters is located in London, United Kingdom. For more information please visit www.epayworldwide.com or contact Angela Wong, Global Marketing Manager on awong@epayworldwide.com or +44 (0) 7787 225 164.

Source: Company press release.